Fabrinet (NYSE:FN) Shares Sold by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC trimmed its holdings in shares of Fabrinet (NYSE:FN) by 49.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 55,812 shares of the technology company’s stock after selling 54,660 shares during the quarter. Neumeier Poma Investment Counsel LLC’s holdings in Fabrinet were worth $12,272,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of FN. Wedge Capital Management L L P NC acquired a new stake in Fabrinet in the fourth quarter worth approximately $63,222,000. Whale Rock Capital Management LLC lifted its holdings in shares of Fabrinet by 25.8% in the third quarter. Whale Rock Capital Management LLC now owns 855,767 shares of the technology company’s stock valued at $202,338,000 after buying an additional 175,684 shares during the period. Stephens Investment Management Group LLC bought a new position in Fabrinet during the fourth quarter valued at about $28,218,000. Vanguard Group Inc. grew its holdings in Fabrinet by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company’s stock worth $909,771,000 after acquiring an additional 113,186 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Fabrinet in the fourth quarter worth about $24,844,000. 97.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FN. Rosenblatt Securities reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Fabrinet in a research note on Friday, March 14th. Fox Advisors started coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an “overweight” rating and a $270.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Fabrinet from $275.00 to $265.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 target price on shares of Fabrinet in a research report on Monday, March 17th. Finally, Barclays decreased their price target on Fabrinet from $292.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $250.43.

Fabrinet Trading Down 6.1 %

Shares of FN stock opened at $208.94 on Thursday. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 23.37 and a beta of 0.89. Fabrinet has a 1-year low of $159.69 and a 1-year high of $281.79. The stock’s fifty day simple moving average is $218.14 and its 200-day simple moving average is $230.31.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 3rd. The technology company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.10). Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. On average, sell-side analysts predict that Fabrinet will post 9.4 EPS for the current year.

About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.